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| CVS Corporation July Sales Increase 30.5% |
WOONSOCKET, R.I.--(BUSINESS WIRE)--Aug. 4, 2005--CVS Corporation (NYSE: CVS) today announced that total sales for the four-week period ended July 30, 2005 increased 30.5% to $2.7 billion, compared to $2.0 billion in the prior year period. The increase includes the impact of the acquisition completed on July 31, 2004, of 1,268 Eckerd drugstores, as well as Eckerd's pharmacy benefit management and mail order pharmacy business. Total pharmacy sales represented 70.7% of total company sales in July. Same store sales (sales from stores open more than one year) for the four weeks ended July 30, 2005 increased 5.1% over the prior year period. Pharmacy same store sales increased 6.1%, despite being negatively impacted by approximately 220 basis points due to recent generic introductions, which are being substituted for higher priced brand named drugs. Front-end same store sales increased 2.9%. Same store sales do not include the acquired Eckerd drugstores, which will be included in the August same store sales results to be reported in early September 2005. Year-to-date, total sales for the thirty-week period ended July 30, 2005, increased 32.7% to $21.0 billion, compared to $15.8 billion in 2004. Same store sales for the thirty-week period increased 6.7% over the prior year period. Pharmacy same store sales increased 7.8%, while front-end same store sales increased 4.1%. CVS is America's largest retail pharmacy, operating 5,444 retail and specialty pharmacy stores in 36 states and the District of Columbia as of July 30, 2005. With more than 40 years of dynamic growth in the retail pharmacy industry, CVS is committed to being the easiest pharmacy retailer for customers to use. CVS has created innovative approaches to serve the healthcare needs of all customers through its CVS/pharmacy(R) stores; its online pharmacy, CVS.com(R); and its pharmacy benefit management, mail order and specialty pharmacy subsidiary, PharmaCare(R). General information about CVS is available through the Investor Relations portion of the Company's website, at http://investor.CVS.com, as well as through the press room portion of the Company's website, at www.cvs.com/pressroom.
CONTACT: CVS Corporation |
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